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Price Signal Summary - Trend Outlook In EUROSTOXX 50 Remains Down

OUTLOOK
  • The E-mini S&P contract found resistance last week at 4430.50 (Oct 12 high). The pullback means that - for now - resistance at the 50-day EMA, at 4426.42, remains intact. A clear breach of this average is required to strengthen bullish conditions and this would open 4492.88, trendline resistance drawn from the Jul 27 high. On the downside, a deeper pullback would refocus attention on 4235.50, the Oct 4 low and bear trigger.
  • A bearish theme in EUROSTOXX 50 futures remains in play and last week’s reversal from 4256.00, the Oct 12 high, signals the end of the recent corrective cycle. Note too that resistance at the 50-day EMA, at 4249.70, remains intact. A clear break of this average is required to signal scope for a stronger correction. The bear trigger lies at 4082.00, the Oct 4 low. Clearance of this level would confirm a resumption of the downtrend.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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